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Dec 31, 2020
HealthStream Q4 2020 Earnings Report
HealthStream's financial performance decreased due to revenue decline and increased operating expenses.
Key Takeaways
HealthStream reported a decrease in revenues and operating income for the fourth quarter of 2020, impacted by acquisitions and the COVID-19 pandemic. Revenues decreased by 1% to $61.8 million, while operating income decreased by 66% to $1.1 million. The company completed several acquisitions during the quarter, including ShiftWizard, Change Healthcare's staff scheduling business, and myClinicalExchange LLC.
Revenues decreased by 1% to $61.8 million compared to Q4 2019.
Operating income decreased by 66% to $1.1 million compared to Q4 2019.
EPS from continuing operations was $0.03 per share (diluted), compared to $0.11 per share (diluted) in Q4 2019.
Completed acquisitions of ShiftWizard, Change Healthcare’s staff scheduling business, and myClinicalExchange LLC.
Forward Guidance
HealthStream provided financial guidance for 2021, including revenue targets for Workforce Solutions and Provider Solutions, as well as adjusted EBITDA and capital expenditure estimates. The guidance reflects assumptions regarding the COVID-19 pandemic, integration costs, and deferred revenue write-downs.
Positive Outlook
- Workforce Solutions revenue is projected to be between $195.0 million and $203.0 million.
- Provider Solutions revenue is projected to be between $47.5 million and $49.5 million.
- Consolidated revenue is projected to be between $242.5 million and $252.5 million.
- Adjusted EBITDA is projected to be between $34.0 million and $38.3 million.
- Capital expenditures are estimated to be between $25.0 million and $27.0 million.
Challenges Ahead
- Financial guidance assumes improvement in public health and economic conditions related to the COVID-19 pandemic.
- Guidance reflects anticipated integration costs and additional investments in recently acquired companies.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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